Stock Market Viewpoint

Reading the Tea Leaves...

Thursday, January 24, 2013

S&P Rings 1500 Bell

Stock Market Technical Analysis Blog

Click on image to enlarge

In the market today we saw the S&P melt up continue as it traded briefly above the 1500 level while AAPL closed $10 lower than its $50 gap down opening. Looking at the top cluster we see that the S&P has finally hit the upper line of its 4-year mother channel while the VIX is touching down on multi year lows. The lower chart is the long term trendline chart of AAPL showing the next channel lower.

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